← KILROY REALTY CORP
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net income | $303.8m |
$180.6m
-40.55%
|
$277.9m
+53.88%
|
$215.2m
-22.56%
|
$207.3m
-3.69%
|
$658.9m
+217.86%
|
$259.5m
-60.62%
|
$238.3m
-8.17%
|
$233.0m
-2.24%
|
$302.6m
+29.91%
|
$189.4m
-37.41%
|
|
| Depreciation and amortization of real estate assets and leasing costs | $213.2m | $241.9m | $249.9m | $268.0m | $290.4m | $303.8m | $350.7m | $348.1m | $349.8m | $349.3m | $369.1m | |
| Depreciation of non-real estate furniture, fixtures, and equipment | — | — | $4.4m | $5.1m | $9.0m | $6.2m | $6.9m | $7.2m | $6.4m | $5.6m | $369.1m | |
| Non-cash amortization of deferred revenue related to tenant-funded tenant improvements | ($13.2m) | ($16.8m) | ($18.4m) | ($19.2m) | ($17.5m) | ($17.2m) | ($19.3m) | ($19.2m) | ($17.6m) | ($14.6m) | — | |
| Non-cash amortization of net below-market rents | ($7.2m) | ($8.5m) | ($9.7m) | ($9.2m) | ($7.6m) | ($6.9m) | ($10.5m) | ($6.6m) | ($3.5m) | ($3.1m) | — | |
| Non-cash amortization of deferred financing costs and debt discounts | $2.7m | $3.2m | $1.1m | $1.4m | $3.0m | $2.8m | $3.7m | $5.2m | $6.9m | $4.8m | — | |
| Non-cash amortization of share-based compensation awards | $21.1m | $19.0m | $27.9m | $27.0m | $30.2m | $33.8m | $28.3m | $36.9m | $17.7m | $19.1m | — | |
| Amortization of right of use ground lease assets | — | — | — | $683k | $825k | $1.2m | $772k | $1.0m | $1.1m | $1.1m | — | |
| Depreciation | — | — | — | — | — | — | $358.4m | $356.3m | $357.2m | $356.0m | $369.1m | |
| Impairment of real estate assets | — | — | — | — | — | — | — | $0 | $0 | $16.3m | — | |
| Asset Impairment Charge | — | — | — | — | — | — | — | $0 | $0 | $16.3m | $78.0m | |
| Change In Working Capital | — | — | — | — | — | — | $35.8m | ($521k) | ($52.1m) | ($798k) | ($2.6m) | |
| Net change in other operating assets | ($5.2m) | ($17.7m) | ($7.9m) | ($14.5m) | ($3.7m) | ($6.1m) | ($12.6m) | $2.3m | $1.9m | ($11.3m) | — | |
| Net change in other operating liabilities | $19.5m | $5.9m | $48.3m | $24.2m | $28.2m | $43.0m | $48.4m | ($2.8m) | ($54.0m) | $10.5m | — | |
| Change In Other Current Assets | — | — | — | — | — | — | ($12.6m) | $2.3m | $1.9m | ($11.3m) | ($4.3m) | |
| Change In Other Current Liabilities | — | — | — | — | — | — | $48.4m | ($2.8m) | ($54.0m) | $10.5m | $1.7m | |
| Net cash provided by operating activities | $345.1m |
$347.0m
+0.57%
|
$410.0m
+18.16%
|
$386.5m
-5.74%
|
$455.6m
+17.87%
|
$516.4m
+13.35%
|
$592.2m
+14.68%
|
$602.6m
+1.75%
|
$541.1m
-10.20%
|
$566.3m
+4.65%
|
$514.5m
-9.14%
|
|
| Distributions to noncontrolling interests in consolidated property partnerships | ($3.6m) | ($16.5m) | ($11.8m) | ($13.0m) | ($15.2m) | ($27.6m) | ($36.3m) | ($30.1m) | ($23.8m) | ($33.2m) | — | |
| Capital Expenditure | — | — | — | — | — | — | ($586.6m) | ($543.8m) | ($501.0m) | ($688.0m) | ($754.9m) | |
| Expenditures for acquisitions of operating properties | $393.8m | $0 | ($257.3m) | ($186.3m) | $0 | ($537.4m) | $0 | $0 | ($35.2m) | ($397.3m) | — | |
| Net cash used in investing activities | ($635.4m) | ($359.1m) | ($808.9m) | ($1.2b) | ($542.1m) | ($747.9m) | ($553.2m) | ($800.4m) | ($225.0m) | ($240.0m) | ($5.7m) | |
| Principal payments and repayments of secured debt | ($74.1m) | ($130.4m) | ($3.6m) | ($76.3m) | ($5.1m) | ($5.3m) | ($5.6m) | ($5.8m) | ($6.0m) | ($6.2m) | — | |
| Proceeds from the issuance of unsecured debt | $0 | $674.4m | $648.5m | $499.4m | $772.3m | $449.8m | $0 | $0 | $395.5m | $396.0m | — | |
| Proceeds from the issuance of secured debt | $170.0m | $0 | $0 | — | — | $0 | $0 | $375.0m | $0 | $0 | — | |
| Repayments of unsecured debt | $0 | ($519.0m) | ($261.8m) | $0 | ($150.0m) | ($312.1m) | $0 | $0 | ($723.7m) | ($400.0m) | — | |
| Borrowings on unsecured debt | $0 | $0 | $120.0m | $0 | $0 | $0 | $200.0m | $320.0m | $0 | $0 | — | |
| Repurchases of unsecured debt | — | — | — | — | — | $0 | $0 | ($20.6m) | $0 | $0 | — | |
| Borrowings on unsecured revolving credit facility | $305.0m | $270.0m | $765.0m | $1.1b | $190.0m | $0 | $0 | $0 | $0 | $65.0m | — | |
| Issuance Of Debt | — | — | — | — | — | — | $200.0m | $695.0m | $395.5m | $461.0m | $0 | |
| Long Term Debt Issuance | — | — | — | — | — | — | $200.0m | $695.0m | $395.5m | $396.0m | $0 | |
| Long Term Debt Payments | — | — | — | — | — | — | ($5.6m) | ($26.4m) | ($729.7m) | ($406.2m) | ($456.4m) | |
| Net Issuance Payments Of Debt | — | — | — | — | — | — | $194.4m | $668.6m | ($334.2m) | ($10.3m) | ($60.4m) | |
| Net Long Term Debt Issuance | — | — | — | — | — | — | $194.4m | $668.6m | ($334.2m) | ($10.3m) | ($60.4m) | |
| Net Short Term Debt Issuance | — | — | — | — | — | — | $0 | $0 | $0 | $0 | $0 | |
| Repayment Of Debt | — | — | — | — | — | — | ($5.6m) | ($26.4m) | ($729.7m) | ($471.2m) | ($456.4m) | |
| Short Term Debt Payments | — | — | — | — | — | — | $0 | $0 | $0 | ($65.0m) | ($105.0m) | |
| Dividends and distributions paid to common stockholders and common unitholders | ($137.4m) | ($340.7m) | ($179.4m) | ($196.3m) | ($224.6m) | ($237.4m) | ($247.6m) | ($255.4m) | ($256.3m) | ($257.9m) | — | |
| Common Stock Dividend Paid | — | — | — | — | — | — | ($247.6m) | ($255.4m) | ($256.3m) | ($257.9m) | ($256.9m) | |
| Common Stock Issuance | — | — | — | — | — | $0 | $0 | — | — | — | $0 | |
| Common Stock Payments | — | — | — | — | — | ($21.9m) | ($22.9m) | ($11.6m) | ($27.6m) | — | ($27.9m) | |
| Issuance Of Capital Stock | — | — | — | — | — | $0 | $0 | — | — | — | $0 | |
| Net Common Stock Issuance | — | — | — | — | — | ($21.9m) | ($22.9m) | ($11.6m) | ($27.6m) | — | ($27.9m) | |
| Repurchase Of Capital Stock | — | — | — | — | — | ($21.9m) | ($22.9m) | ($11.6m) | ($27.6m) | — | ($27.9m) | |
| Cash Dividends Paid | — | — | — | — | — | — | ($247.6m) | ($255.4m) | ($256.3m) | ($257.9m) | ($256.9m) | |
| Taxes paid upon net share settlement of restricted share units | ($8.9m) | ($13.0m) | ($16.6m) | ($14.6m) | ($14.1m) | ($21.9m) | ($22.9m) | ($11.6m) | ($27.6m) | ($6.6m) | — | |
| Net Other Financing Charges | — | — | — | — | — | — | ($42.7m) | ($52.6m) | ($70.1m) | ($44.5m) | ($57.4m) | |
| Net cash (used in) provided by financing activities | $427.3m |
($171.2m)
-140.08%
|
$503.1m
+393.80%
|
$747.1m
+48.49%
|
$833.3m
+11.55%
|
($164.6m)
-119.75%
|
($118.7m)
+27.85%
|
$360.6m
+403.67%
|
($660.6m)
-283.19%
|
($312.7m)
+52.67%
|
— | |
| Net increase (decrease) in cash and cash equivalents and restricted cash | $192.9m | ($183.3m) | $104.2m | ($94.7m) | $746.8m | ($396.0m) | ($79.7m) | $162.8m | ($344.5m) | $13.6m | — | |
| Cash and cash equivalents and restricted cash, beginning of year | $250.1m | $66.8m | $171.0m | $76.3m | $823.1m | $427.1m | $347.4m | $510.2m | $165.7m | $179.3m | — | |
| Beginning Cash Position | — | — | — | — | — | — | $427.1m | $347.4m | $510.2m | $165.7m | $193.1m | |
| Additional Supplementary Disclosures | ||||||||||||
| Additional Supplementary Disclosures | ||||||||||||
| Revenues deemed uncollectible | — | — | — | — | — | — | — | $11.6m | $2.4m | $1.5m | — | |
| Straight-line rents, net | ($29.6m) | ($33.3m) | ($27.0m) | ($72.0m) | ($67.8m) | ($53.7m) | ($46.2m) | ($19.3m) | $3.2m | $11.6m | — | |
| Gains on sales of depreciable operating properties | ($164.3m) | ($39.5m) | ($142.9m) | ($36.8m) | ($35.5m) | ($463.1m) | ($17.3m) | $0 | $0 | ($127.0m) | — | |
| Gain on sale of long-lived assets | — | — | — | — | — | — | $0 | $0 | ($6.0m) | $0 | — | |
| Expenditures for development and redevelopment properties and undeveloped land | $351.0m | ($397.4m) | ($489.2m) | ($845.5m) | ($486.6m) | ($552.8m) | ($453.8m) | ($446.4m) | ($365.5m) | ($174.7m) | — | |
| Expenditures for operating properties and other capital assets | $112.0m | ($88.4m) | ($166.4m) | ($147.7m) | ($129.5m) | ($120.6m) | ($92.8m) | ($97.4m) | ($100.3m) | ($116.0m) | — | |
| Net proceeds received from dispositions of real estate assets | $325.0m | $182.5m | $364.3m | $124.4m | $74.9m | $1.0b | $33.4m | $0 | $0 | $447.9m | — | |
| Net proceeds received from disposition of long-lived assets | — | — | — | — | — | — | $0 | $0 | $19.4m | $0 | — | |
| Maturity (Purchases) of certificates of deposit | — | — | — | — | — | — | $0 | $256.6m | $256.6m | $0 | — | |
| Financing costs | ($2.2m) | ($11.5m) | ($6.3m) | ($6.7m) | ($6.6m) | ($12.0m) | ($6.4m) | ($10.9m) | ($18.6m) | ($4.8m) | — | |
| Repayments on unsecured revolving credit facility | ($305.0m) | ($270.0m) | ($690.0m) | ($910.0m) | ($435.0m) | $0 | $0 | $0 | $0 | ($65.0m) | — | |
| Cash Flow From Continuing Financing Activities | — | — | — | — | — | — | ($118.7m) | $360.6m | ($660.6m) | ($312.7m) | ($448.2m) | |
| Cash Flow From Continuing Investing Activities | — | — | — | — | — | — | ($553.2m) | ($800.4m) | ($225.0m) | ($240.0m) | ($5.7m) | |
| Change In Cash Supplemental As Reported | — | — | — | — | — | — | ($79.7m) | $162.8m | ($344.5m) | $13.6m | — | |
| Changes In Cash | — | — | — | — | — | — | ($79.7m) | $162.8m | ($344.5m) | $13.6m | $60.7m | |
| End Cash Position | — | — | — | — | — | — | $347.4m | $510.2m | $165.7m | $179.3m | $253.8m | |
| Financing Cash Flow | — | — | — | — | — | — | ($118.7m) |
$360.6m
+403.67%
|
($660.6m)
-283.19%
|
($312.7m)
+52.67%
|
($448.2m)
-43.35%
|
|
| Free Cash Flow | — | — | — | — | — | — | $5.6m | $58.8m | $40.2m | ($121.7m) | ($240.4m) | |
| Gain Loss On Investment Securities | — | — | — | — | — | ($463.1m) | ($17.3m) | — | — | ($127.0m) | ($134.0m) | |
| Gain Loss On Sale Of PPE | — | — | — | — | — | — | $0 | $0 | ($6.0m) | $0 | $0 | |
| Interest Paid Supplemental Data | — | — | — | — | — | $77.0m | $79.6m | $105.8m | — | — | $131.6m | |
| Investing Cash Flow | — | — | — | — | — | — | ($553.2m) | ($800.4m) | ($225.0m) | ($240.0m) | ($5.7m) | |
| Net Business Purchase And Sale | — | — | — | — | — | — | $33.4m | $0 | $0 | $447.9m | $589.4m | |
| Net Investment Properties Purchase And Sale | — | — | — | — | — | — | $33.4m | $0 | $0 | — | $28.0m | |
| Net Investment Purchase And Sale | — | — | — | — | — | — | $0 | ($256.6m) | $256.6m | $0 | ($1.0m) | |
| Net PPE Purchase And Sale | — | — | — | — | — | — | $0 | $0 | $19.4m | $0 | $0 | |
| Operating Gains Losses | — | — | — | — | — | ($450.9m) | ($17.3m) | — | ($6.0m) | ($127.0m) | ($134.0m) | |
| Other Non Cash Items | — | — | — | — | — | — | ($72.4m) | ($39.9m) | ($11.1m) | ($1.3m) | — | |
| Proceeds From Stock Option Exercised | — | — | — | — | — | $383k | $0 | $0 | — | — | $0 | |
| Provisionand Write Offof Assets | — | — | — | — | — | — | ($123k) | $11.6m | $2.4m | $1.5m | $1.2m | |
| Purchase Of Investment | — | — | — | — | — | $0 | $0 | ($256.6m) | — | — | — | |
| Sale Of Business | — | — | — | — | — | — | $33.4m | $0 | $0 | $447.9m | $589.4m | |
| Sale Of Investment Properties | — | — | — | — | — | — | $33.4m | $0 | $0 | — | $28.0m | |
| Stock Based Compensation | — | — | — | — | — | — | $28.3m | $36.9m | $17.7m | $19.1m | $18.5m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.